| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $25M | $23M | $19M | 9.7% | 33.7% |
| Op. Income | -$15M | -$15M | -$13M | 0.3% | -13.3% |
| Gross Margin | 87.3% | 88.3% | 87.6% | -1.0pp | -0.3pp |
| Net Margin | -54.6% | -59.6% | -67.9% | 5.0pp | 13.3pp |
| EPS (Diluted) | $-0.36 | $-0.37 | $-0.40 | 2.7% | 10.0% |
| Free Cash Flow | -$11M | -$12M | -$10M | 5.7% | -6.0% |
| Item | Amount |
|---|---|
| REVENUE | $25M |
| Cost of Revenue | $3M |
| GROSS PROFIT | $22M |
| R&D Expenses | $5M |
| Selling & Marketing | $19M |
| General & Administrative | $12M |
| SG&A Expenses | $31M |
| Other Expenses | $0 |
| Operating Expenses | $36M |
| Cost & Expenses | $39M |
| OPERATING INCOME | -$15M |
| Interest Income | $0 |
| Interest Expense | $462.0K |
| Other Income/Expenses | $1M |
| INCOME BEFORE TAX | -$14M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$14M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$14M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$14M |
| D&A | $0 |
| EBIT | -$13M |
| EBITDA | -$13M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$14M |
| Depreciation & Amortization | -$314.0K |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $90.0K |
| Change in Working Capital | -$382.0K |
| OPERATING CASH FLOW | -$11M |
| Capital Expenditure | -$179.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$22M |
| Sales/Maturities of Investments | $49M |
| Other Investing Activities | -$373.0K |
| NET CASH FROM INVESTING | $26M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$236.0K |
| NET CASH FROM FINANCING | $1M |
| FREE CASH FLOW | -$11M |
| Net Change in Cash | $17M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $40M |
| Short-Term Investments | $119M |
| Net Receivables | $15M |
| Inventory | $7M |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $187M |
| PP&E (Net) | $4M |
| Goodwill | $0 |
| Intangible Assets | $805.0K |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $4M |
| TOTAL NON-CURRENT ASSETS | $9M |
| TOTAL ASSETS | $196M |
| Account Payables | $3M |
| Short-Term Debt | $1M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $15M |
| TOTAL CURRENT LIABILITIES | $19M |
| Long-Term Debt | $20M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $106.0K |
| TOTAL NON-CURRENT LIABILITIES | $21M |
| TOTAL LIABILITIES | $40M |
| Common Stock | $38.0K |
| Additional Paid-In Capital | $375M |
| Retained Earnings | -$220M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $159.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $155M |
| Minority Interest | $0 |
| TOTAL EQUITY | $155M |
| TOTAL LIABILITIES & EQUITY | $196M |
| Total Debt | $22M |
| Net Debt | -$18M |
